Weedmaps is coming to the Arts District.
Ghost Management Group, an Irvine-based technology firm that runs the website weedmaps.com and offers technology services to several cannabis brands, has signed a 115,000 square foot office lease at the ROW DTLA at 767 Alameda St. in the Arts District. The lease is for the top three floors of the building.
The value of the lease was not disclosed. Average asking rent for downtown during the first quarter of the year was $3.75 a square foot, which would put the value of the lease at more than $5 million a year.
CBRE Group Inc.’s Chris Penrose, Jeffrey Pion and Michelle Esquivel represented the landlord in the transaction. Newmark Knight Frank’s Ryan Harding and Mark Gardner represented the tenant.
Published: June 20, 2019